president obama is expected to take that podium in just a few moments' time to nominate thomas perez for labor secretary. assista assistant attorney general for the civil rights. we will bring you that press conference as soon as it does happen. but again, another announcement of a nominee to his cabinet from the white house. >> maintaining a hispanic is very important point in the cabinet. >>> let's check on the market in chicago. rick santelli is with the "santelli exchange." >> thanks, simon. i would like to welcome our guest. i'm really glad zach is my guest today because i think he's one of the most sensible, everybody keeled people on our air. >> thank you, rick. >> okay, now, i read your notion of how we should approach the news of the weekend and indeed today regarding cyprus. i would like you to share that with the viewers and listeners. >> yeah, i mean, this definitely is one of these moments of mind-boggling market excuses for what looks to be like a pretty modest sell-off. i mean, this has been talked about a lot this morning but i'm going to repeat. . one half% of the en